Lending Services

As the coronavirus pandemic challenges our communities, Illinois’ banks remain strong and are there for you, continuing to support the everyday lives of individuals and small businesses.



Paycheck Protection Program

This SBA program provides 8 weeks of cash flow assistance through 100% federally guaranteed loans to small employers who maintain their payroll during the crisis. The size of the loans would equal 250% of an employer’s average monthly payroll up to a maximum loan amount of $10 million. Covered payroll costs include salary, wages, and payment of cash tips, employee group health care benefits, including insurance premiums, retirement contributions and covered leave. More information is available here.

If you wish to begin preparing your application, you can download a sample form or view our Paycheck Protection Program Checklist to see the information that will be requested from you. Click here to view the PPP Interim Final Rule document provided by SBA.

Economic Injury Disaster Loan Program (EIDL).

The SBA’s EIDL Program provides eligible small businesses with working capital loans of up to $2 million to help overcome the temporary loss of revenue. More information and applications can be accessed here.

SBA Express Bridge Loans

Small businesses that currently have a business relationship with an SBA Express Lender can access up to $25,000 to overcome temporary loss of revenue or to bridge the gap while applying for a SBA Economic Injury Disaster Loan. More info can be found at the SBA Coronavirus webpage.



The state of Illinois is attempting to stop the spread of COVID-19 through self-isolation and social distancing. This is severely harming small businesses, which rely heavily on foot traffic. In an effort to assist small businesses, the city of Quincy is establishing a $500,000 emergency low-interest loan fund to help bridge the gap to either longer term Small Business Administration (SBA) loans or commercially available loans.

Program Function
Qualifying small businesses located within the city of Quincy are eligible for a Small Business Emergency Loan of up to $10,000 to help them get through these difficult times. The 18-month loan will have an interest rate of 1.0% annually, compounded monthly. These loans will be offered on a first-come, first serve basis until all the funds are dispersed.

Learn more about the City of Quincy small business emergency loan program here.


Emergency Small Business Grants and Loans Assistance Programs. Governor Pritzker has announced a $90 million grant and loan package for Illinois small businesses. Below is a brief synopsis of available programs. Illinois businesses may apply to these programs on the Department of Commerce and Economic Opportunity (DCEO) website.

Illinois Small Business Emergency Loan Fund

This Fund offers low-interest small business loans of up to $50,000. Businesses located outside of the City of Chicago with fewer than 50 workers and less than $3 million in revenue in 2019 will be eligible to apply. Eligible applicants will owe nothing for six months and then will begin making fixed payments at a below market interest rate for the remainder of a five-year loan term.

Downstate Small Business Stabilization Program

This Program will offer small businesses of up to 50 employees (in eligible communities) the opportunity to partner with their local governments to obtain grants of up to $25,000 in working capital. These grants will be offered on a rolling basis.

Hospitality Emergency Grant Program

Grant funds are available for restaurants, bars and hotels to support working capital (like payroll and rent), as well as job training, retraining, and technology to support shifts in operations (like increased pickup and delivery). Grant amounts are based on the revenue generated in 2019.

Advantage Illinois Participation Loans

DCEO Participation loans are delivered through pre-approved Illinois financial institutions to accelerate investments and ease traditional credit underwriting standards for small businesses. More information can be found here.

Illinois Treasurer’s Small Business COVID-19 Relief Program

The Business Invest program, administered through the Illinois State Treasurer’s office, is an investment loan program through approved depository institutions to provide lower rate loans to small businesses and nonprofits throughout Illinois to help overcome the loss of revenue. More information and applications can be accessed here.

Illinois Critical Access Pharmacy Fund

The State Comptroller is releasing a nearly $1 million Critical Access Pharmacy fund to help rural pharmacies. More information can be found here.


State of Illinois: For up-to-date information regarding the State of Illinois’ response to the COVID-19 outbreak, please visit: https://www2.illinois.gov/sites/coronavirus/Pages/default.aspx

Federal Deposit Insurance Corporation (FDIC): The FDIC website offers answers to frequently asked questions for bank customers affected by COVID-19, including deposit insurance coverage and access to money and credit.

More Banking Resources: For more information, including what some Illinois banks are doing in their communities, visit the Illinois Bankers Association Coronavirus Resource page at: https://www.ilbanker.com/COVID-19-Information.